Aon signs definitive agreement for BlackFin Capital Partners to acquire the firm’s Personal Lines business in the Netherlands

  • Aon will continue to focus on Risk Capital and Human Capital capabilities

ROTTERDAM, 12 December 2023Aon plc (NYSE: AON), a leading global professional services firm, today announced it has signed a definitive agreement for BlackFin Capital Partners to acquire the firm’s Personal Lines business in the Netherlands comprising both insurance brokerage (Affinity) and managing general agents (MGA).

The agreement with BlackFin Capital Partners is part of Aon's FutureForward strategy in the Netherlands to further align the firm’s business under its Risk Capital and Human Capital capabilities with a focus on the business to business market. Following the close of the agreement, Aon will no longer serve client groups for private insurance in the Netherlands, with certain exceptions such as expat and international student insurance. The new strategic alignment in the Netherlands does not affect Aon's global Affinity business.

“We recognize the strength and significant contributions of our personal lines colleagues and know that they, along with the clients they serve, have a positive future at BlackFin,” said Leonique van Houwelingen, CEO of the Netherlands for Aon. “Our focus remains on building on Aon’s leading Risk Capital and Human Capital capabilities and leveraging advanced analytics to deliver insights and solutions that help our clients make better decisions.”

BlackFin Capital Partners is an independent private equity firm with expertise in the financial services and this acquisition is part of its plan to grow its presence in the Personal Lines insurance segment. With this acquisition, BlackFin Capital Partners will gain a strong foothold in the Dutch market and has the ambition and resources to expand it further. Ron Gardenier, the current Chief MGA at Aon, will be appointed CEO of the newly formed entity.

Laurent Bouyoux, Founding Partner of BlackFin, commented: “We are looking forward to working with the management team and staff of Aon’s personal lines business in the next phase of its development. As a partner, we will support them to become the undisputed leader in personal lines insurance distribution in the Netherlands through an ambitious growth plan driven by an enhanced service model and selective acquisitions. In the coming weeks, we will closely collaborate with Aon to finalize this transaction.”

Terms of the agreement – which is subject to regulatory approval – were not disclosed.

About Aon
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Our colleagues provide our clients in over 120 countries and sovereignties with advice and solutions that give them the clarity and confidence to make better decisions to protect and grow their business.

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About BlackFin Capital Partners
Focused on investing in financial services companies, BlackFin is the European sector leader with over €3.5bn assets under management.

Founded in 2009, BlackFin Capital Partners is an independent private equity firm led by nine partners who have worked together as managers and entrepreneurs in the financial industry for decades. The team has c. 50 professionals across offices in Paris, Frankfurt, Amsterdam, Brussels and London.

The transaction will be BlackFin’s fifth investment in the Netherlands after Blauwtrust Groep (leading mortgage distributor and servicer), CED (insurance claim management), Friss (fraud detection software for insurers), Carbon Equity (wealth manager focused on impact investments) and Buckaroo (payment service provider for online merchants).

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